Abstract
SPEAKING AT THE NATIONAL Petrochemical & Refiners Association's petrochemical conference in San Antonio last week, Rafael Beverido Lomelin, president of Pemex Petroquimica, detailed a $1 billion expansion program that is expected to eventually cut Mexico's $6 billion chemical trade deficit in half. In addition, Beverido pledged that Pemex, which maintains a monopoly in petrochemical feedstocks in Mexico, would reform its feedstock pricing to allow long-term contracts in line with global norms. Beverido, who was tapped by Mexican President Vicente Fox Quesada to lead a transformation in the Mexican petrochemical industry, admitted to being horrified by Pemex's failure to invest adequately When looked for the result of the last 10 years, he said, I found nothing at all. New projects will help Pemex recover lost ground, Beverido maintained. An ethylene cracker and a styrene unit will be the first in a series of planned expansions that he wants to get under way within two years. ...
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